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The Maroon A Loyola Tradition Since 1923 "For a greater Loyola" Friday, September 30, 201 1 www.LoyolaMaroon.com V 01.90 N0.6 WHERE DO FIT IN A After the rejection of the Austrian economics masters program, the economics department is going for a second round, but Jesuitsfind the program does not align with university values By JAMIE FUTRAL Assistant News Editor The College of Business is working on a second proposal for a master's program in Austrian economics after the first proposal was denied last spring. The economics department of the College of Business is addressing the issues with the first proposal after the Standing Council for Academic Planning, an Academic Affairs committee that oversees academic decisions, denied the proposal at their May 3 meeting. The committee denied the program after several non-committee members made arguments for and against the master's program at the meeting. The Austrian economics master's program would in part support the mission of Loyola, but it would undercut the mission at the same time," said Thomas Ryan, director of the Loyola Institute for Ministry. According to the proposal, the masters program would follow Loyola's mission by adhering to the analysis and importance of individuals within economics. Ryan said that the masters program gets that part of the mission correct but leaves out Loyola's commitment to social justice. Daniel D'Amico, assistant professor of economics, said that focusing on individual decision making is nothing unique to Austrian economics. "All economists attempt to adhere to methodological individualism wherein the individual is the central focus of decision making," he said. The Rev. Fred Kammer, SJ., executive director of the Jesuit Social Research Institute, agreed that the program does not align with Loyola's mission and values. According to Kammer, Catholic social teaching takes the position of a market framed by justice and not the free market the Austrian economists propose. There are also specific conflicts, he said, between Catholic social teaching and the Austrian view of government, unions, taxations, human life and the place of Christianity in the public sector. Kammer said he also found problems in the Austrian economics master's program's funding. He said he believes Loyola would make a mistake by letting the Koch Foundation, the charitable Photo Illustration by Sam Winstrom Student government approves fall budget By KRISTEN HIMMELBERG Staff Writer The Student Government Association has passed their fall 2011 budget and this semester, there are several changes that SGA believes will benefit the student body. At the Sept. 14 SGA Senate meeting, this semesters budget of $211,383 was agreed on and passed. The budget, which comes from student fees, fimds student activities and organizations on campus. Though the overall budget is actually down by $1,000 from last semester, SGA has reshuffled it to allow for a higher amount to go toward allocations for student organizations, meaning organizations will have the opportunity to receive more money than ever before. Ixist semester there was #75,000 allocated for organizations, plus SGA plans to allocate more By KAMARIA MONMOUTH Staff Writer The Student Government Association increased preliminary allocation funds from $75,000 last semester to $85,000 this semester with a fixed $10,000 rate for post allocations. "Altogether, with allocations and post allocations this semester, we expect $95,000 to be allocated to organizations — almost half of all of SGAIs budget," said Brian Gibbons, SGA director of finance and finance senior. The extra $10,000 for the allocations process was the result see BUDGET, page 7 see AUSTRIAN, page 4 see ALLOCATE, page 7 Free food See page 5 jj| Page 'I. .ft* I*' alwrron ww mA m Cp«tw Cth»d to "tommy Harold. In the score box of the came issue a ECi*CP Mumyfr In the Sept 16 issue, "Hey, DJ, keep playing

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The Maroon A Loyola Tradition Since 1923 "For a greater Loyola" Friday, September 30, 201 1 www.LoyolaMaroon.com V 01.90 N0.6 WHERE DO FIT IN A After the rejection of the Austrian economics masters program, the economics department is going for a second round, but Jesuitsfind the program does not align with university values By JAMIE FUTRAL Assistant News Editor The College of Business is working on a second proposal for a master's program in Austrian economics after the first proposal was denied last spring. The economics department of the College of Business is addressing the issues with the first proposal after the Standing Council for Academic Planning, an Academic Affairs committee that oversees academic decisions, denied the proposal at their May 3 meeting. The committee denied the program after several non-committee members made arguments for and against the master's program at the meeting. The Austrian economics master's program would in part support the mission of Loyola, but it would undercut the mission at the same time," said Thomas Ryan, director of the Loyola Institute for Ministry. According to the proposal, the masters program would follow Loyola's mission by adhering to the analysis and importance of individuals within economics. Ryan said that the masters program gets that part of the mission correct but leaves out Loyola's commitment to social justice. Daniel D'Amico, assistant professor of economics, said that focusing on individual decision making is nothing unique to Austrian economics. "All economists attempt to adhere to methodological individualism wherein the individual is the central focus of decision making," he said. The Rev. Fred Kammer, SJ., executive director of the Jesuit Social Research Institute, agreed that the program does not align with Loyola's mission and values. According to Kammer, Catholic social teaching takes the position of a market framed by justice and not the free market the Austrian economists propose. There are also specific conflicts, he said, between Catholic social teaching and the Austrian view of government, unions, taxations, human life and the place of Christianity in the public sector. Kammer said he also found problems in the Austrian economics master's program's funding. He said he believes Loyola would make a mistake by letting the Koch Foundation, the charitable Photo Illustration by Sam Winstrom Student government approves fall budget By KRISTEN HIMMELBERG Staff Writer The Student Government Association has passed their fall 2011 budget and this semester, there are several changes that SGA believes will benefit the student body. At the Sept. 14 SGA Senate meeting, this semesters budget of $211,383 was agreed on and passed. The budget, which comes from student fees, fimds student activities and organizations on campus. Though the overall budget is actually down by $1,000 from last semester, SGA has reshuffled it to allow for a higher amount to go toward allocations for student organizations, meaning organizations will have the opportunity to receive more money than ever before. Ixist semester there was #75,000 allocated for organizations, plus SGA plans to allocate more By KAMARIA MONMOUTH Staff Writer The Student Government Association increased preliminary allocation funds from $75,000 last semester to $85,000 this semester with a fixed $10,000 rate for post allocations. "Altogether, with allocations and post allocations this semester, we expect $95,000 to be allocated to organizations — almost half of all of SGAIs budget," said Brian Gibbons, SGA director of finance and finance senior. The extra $10,000 for the allocations process was the result see BUDGET, page 7 see AUSTRIAN, page 4 see ALLOCATE, page 7 Free food See page 5 jj| Page 'I. .ft* I*' alwrron ww mA m Cp«tw Cth»d to "tommy Harold. In the score box of the came issue a ECi*CP Mumyfr In the Sept 16 issue, "Hey, DJ, keep playing